Merger leads GSE to suspend Ayrton Drugs and Starwin

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The Ghana Stock Exchange (GSE) has suspended trading of shares of Ayrton Drugs Manufacturing Limited and Starwin Products Limited.

The action takes effect Thursday pending the de-listing of the two firms on January 15, 2020.

The action follows the merger of Ayrton Drugs Manufacturing Limited and Starwin Products Limited and Dannex Limited.

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The three have formed Dannex Ayrton Starwin Plc which has since been listed on the GSE prompting the de-listing of the defunct two companies.

The share exchange ratio to be applied in the Scheme of Amalgamation will be 3.13 Ayrton Share for 1 Dannex Ayrton Starwin Plc Share and 12.50 Starwin Shares for 1 Dannex Ayrton Starwin Plc Share.

The Scheme of Amalgamation was approved shareholder of Ayrton Drugs Manufacturing Limited and Starwin Products Limited as well as other parties involved in the transaction.

It was approved by GSE on December 24, 2019.

Source The Ghana Report/ Dave Alamisi

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